Form 10-QSB

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                  |X|  Quarterly  Report  Pursuant to Section 13 or
                       15(d)  of  the  Securities  Exchange  Act of
                       1934.  For the quarterly  period ended March
                       31, 2000

                  |_|  Transition Report Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934.
                       For the transition period from _______ to _______

                        Commission File Number 000-21552

                      ATEL Cash Distribution Fund IV, L.P.
             (Exact name of registrant as specified in its charter)

  California                                                 94-3145429
  ----------                                                 ----------
(State or other jurisdiction of                          (I. R. S. Employer
 incorporation or organization)                         Identification No.)

           235 Pine Street, 6th Floor, San Francisco, California 94104
                    (Address of principal executive offices)

       Registrant's telephone number, including area code: (415) 989-8800



Indicate  by a check  mark  whether  the  registrant  (1) has filed all  reports
required to be filed by section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  12 months  (or for such  shorter  period  that the
registrant was required to file such reports),  and (2) has been subject to such
filing requirements for the past 90 days.

                                     Yes |X|
                                     No  |_|

                       DOCUMENTS INCORPORATED BY REFERENCE

                                      None

                                       1
<PAGE>




                          Part I. FINANCIAL INFORMATION

Item 1.  Financial Statements.








                                       2
<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                                  BALANCE SHEET

                                 MARCH 31, 2000
                                   (Unaudited)


                                     ASSETS


Cash and cash equivalents                                        $ 4,829,124

Accounts receivable                                                  433,035

Investments in leases                                              7,442,460
                                                           ------------------
Total assets                                                     $12,704,619
                                                           ==================


                        LIABILITIES AND PARTNERS' CAPITAL



Non-recourse debt                                                $ 2,205,129
Accounts payable:
     General Partner                                                  96,802
     Other                                                            77,912
Accrued interest payable                                              10,179
Unearned operating lease income                                       98,276
                                                           ------------------
Total liabilities                                                  2,488,298

Partners' capital:
     General Partner                                                 203,064
     Limited Partners                                             10,013,257
                                                           ------------------
Total partners' capital                                           10,216,321
                                                           ------------------
Total liabilities and partners' capital                          $12,704,619
                                                           ==================


                             See accompanying notes.


                                       3
<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                                INCOME STATEMENTS

                            THREE MONTH PERIODS ENDED
                             MARCH 31, 2000 AND 1999
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                   2000                1999
                                                                   ----                ----
<S>                                                                   <C>                <C>
Revenues:
Leasing activities:
   Operating leases                                                   $ 651,787          $ 894,736
   Direct financing leases                                              180,615            207,251
   Leveraged leases                                                           -             67,619
    Gain on sale of assets                                               56,361          1,980,007
Interest                                                                 65,235              2,094
Other                                                                    35,189              4,851
                                                           --------------------- ------------------
                                                                        989,187          3,156,558
                                                           --------------------- ------------------
Expenses:
Depreciation and amortization                                           283,855            537,595
Railcar maintenance                                                     111,237                  -
Equipment and incentive management fees to General Partner               64,405            182,397
Interest                                                                 59,625             99,461
Administrative cost reimbursements to General Partner                    43,987             30,609
Professional fees                                                        14,297              5,959
Other                                                                     7,949             60,702
                                                           --------------------- ------------------
                                                                        585,355            916,723
                                                           --------------------- ------------------
Net income                                                            $ 403,832        $ 2,239,835
                                                           ===================== ==================

Net income:
     General Partner                                                    $ 4,038           $ 22,398
     Limited Partners                                                   399,794          2,217,437
                                                           --------------------- ------------------
                                                                      $ 403,832        $ 2,239,835
                                                           ===================== ==================
Net income per Limited Partnership unit                                  $ 0.05             $ 0.30
Weighted average number of units outstanding                          7,487,350          7,487,350

</TABLE>

                    STATEMENT OF CHANGES IN PARTNERS' CAPITAL

                            THREE MONTH PERIOD ENDED
                                 MARCH 31, 2000
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                   Limited Partners          General
                                      Units             Amount               Partner               Total
<S>                                    <C>                <C>                      <C>             <C>
Balance December 31, 1999              7,487,350          $12,234,093              $199,026        $12,433,119
Distributions to limited partners                          (2,620,630)                    -         (2,620,630)
Net income                                                    399,794                 4,038            403,832
                                 ---------------- -------------------- --------------------- ------------------
Balance March 31, 2000                 7,487,350         $ 10,013,257             $ 203,064        $10,216,321
                                 ================ ==================== ===================== ==================
</TABLE>

                             See accompanying notes.


                                       4
<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                            STATEMENTS OF CASH FLOWS

                            THREE MONTH PERIODS ENDED
                             MARCH 31, 2000 AND 1999
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                                               2000                1999
                                                                               ----                ----
<S>                                                                             <C>                <C>
Operating activities:
Net income                                                                        $ 403,832        $ 2,239,835
Adjustments to reconcile net income to net cash provided by operations:
   Leveraged lease income                                                                 -            (67,619)
   Depreciation and amortization                                                    283,855            537,595
   Gain on sale of asset                                                            (56,361)        (1,980,007)
   Changes in operating assets and liabilities:
     Accounts receivable                                                          1,166,377           (100,261)
     Accounts payable, General Partner                                               30,226           (353,401)
     Accounts payable, other                                                       (184,848)            43,251
     Accrued interest payable                                                        (1,559)            (2,454)
     Unearned operating lease income                                                (51,507)          (137,757)
                                                                       --------------------- ------------------
Net cash from operations                                                          1,590,015            179,182
                                                                       --------------------- ------------------

Investing activities:
Reduction in investment in direct financing leases                                  229,860            394,994
Proceeds from sales of lease assets                                                 149,608          3,620,439
Reduction in investment in leveraged leases                                               -              1,240
                                                                       --------------------- ------------------
Net cash provided by investing activities                                           379,468          4,016,673
                                                                       --------------------- ------------------

Financing activities:
Distributions to limited partners                                                (2,620,630)        (2,621,002)
Repayment of non-recourse debt                                                     (384,288)          (594,664)
                                                                       --------------------- ------------------
Net cash used in financing activities                                            (3,004,918)        (3,215,666)
                                                                       --------------------- ------------------

Net (decrease) increase in cash and cash equivalents                             (1,035,435)           980,189
Cash and cash equivalents at beginning of period                                  5,864,559            371,891
                                                                       --------------------- ------------------
Cash and cash equivalents at end of period                                      $ 4,829,124        $ 1,352,080
                                                                       ===================== ==================

Supplemental disclosures of cash flow information:
Cash paid during period for interest                                               $ 61,184          $ 101,915
                                                                       ===================== ==================
</TABLE>



                             See accompanying notes.





                                       5
<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                                 MARCH 31, 2000
                                   (Unaudited)


1.  Summary of significant accounting policies:

Interim financial statements:

The unaudited interim financial statements reflect all adjustments which are, in
the opinion of the general partners,  necessary to a fair statement of financial
position and results of operations for the interim periods  presented.  All such
adjustments are of a normal recurring nature.  These unaudited interim financial
statements  should be read in  conjunction  with the most recent  report on Form
10KSB.


2. Organization and partnership matters:

ATEL Cash  Distribution  Fund IV, L.P. (the  Partnership),  was formed under the
laws of the State of  California  on  September  19,  1991,  for the  purpose of
acquiring  equipment  to  engage in  equipment  leasing  and  sales  activities.
Contributions in the aggregate of $600 were received as of October 8, 1991, $100
of which  represented the General  Partner's  continuing  interest,  and $500 of
which represented the Initial Limited Partners' capital investment.

Upon the sale of the  minimum  amount of Units of Limited  Partnership  interest
(Units) of $1,200,000 and the receipt of the proceeds  thereof on March 6, 1992,
the Partnership commenced operations.

The Partnership's business consists of leasing various types of equipment.


3. Investment in leases:

The Partnership's investment in leases consists of the following:

<TABLE>
<CAPTION>
                                                                           Depreciation
                                                                           Expense and           Reclassi-
                                                      December 31,        Amortization         fications and          March 31,
                                                           1999             of Leases           Dispositions            2000
                                                           ----             ---------       -   -------------           ----
<S>                                                        <C>                  <C>                    <C>              <C>
Net investment in operating leases                         $4,402,707           $ (273,208)            $ 422,828        $ 4,552,327
Net investment in direct financing leases                   3,412,936             (229,860)             (286,244)         2,896,832
Residual value interests                                      582,057                    -                     -            582,057
Reserve for losses                                           (652,082)                   -                     -           (652,082)
Assets held for sale or lease                                 242,793                    -              (229,831)            12,962
Initial direct costs, net of accumulated
   amortization of $911,060 in 1999 and
    $412,901 in 2000                                           61,011              (10,647)                    -             50,364
                                                    ------------------ -------------------- --------------------- ------------------
                                                           $8,049,422           $ (513,715)            $ (93,247)       $ 7,442,460
                                                    ================== ==================== ===================== ==================
</TABLE>





                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                                 MARCH 31, 2000
                                   (Unaudited)

3. Investment in leases (continued):

The following  schedule provides an analysis of the Partnership's  investment in
property on operating leases by major  classifications  as of December 31, 1999,
acquisitions and dispositions  during the quarter ended March 31, 2000 and as of
March 31, 2000.

<TABLE>
<CAPTION>
                                                                        Reclassi-
                                December 31,                          fications and          March 31,
                                  1999           Depreciation          Dispositions            2000
                                  ----           ------------      -   -------------           ----
<S>                               <C>                  <C>                    <C>              <C>
Transportation                    $2,763,271                                  $ 513,879        $ 3,277,150
Printing                           3,478,749                                          -          3,478,749
Construction                       2,058,733                                   (263,984)         1,794,749
Other                                272,267                                   (188,627)            83,640
Manufacturing                        457,670                                          -            457,670
Ground support                     1,127,988                                          -          1,127,988
Materials handling                   291,920                                          -            291,920
                             ---------------- -------------------- --------------------- ------------------
                                  10,450,598                                     61,268         10,511,866
Less accumulated depreciation     (6,047,891)          $ (273,208)              361,560         (5,959,539)
                             ---------------- -------------------- --------------------- ------------------
                                  $4,402,707           $ (273,208)            $ 422,828        $ 4,552,327
                             ================ ==================== ===================== ==================
</TABLE>

All of the property on operating  leases was acquired during 1992,  1993,  1994,
1995 and 1996.

At March 31, 2000, the aggregate amounts of future minimum lease payments are as
follows:

  Year ending      Operating     Direct Financing
  December 31,       Leases             Leases                Total
  ------------       ------             ------                -----
          2000        $1,330,329          $ 1,191,455           $ 2,521,784
          2001         1,166,277            1,086,349             2,252,626
          2002           847,229              648,317             1,495,546
          2003           612,330              561,360             1,173,690
          2004                 -              424,000               424,000
                 ---------------- -------------------- ---------------------
                      $3,956,165          $ 3,911,481           $ 7,867,646
                 ================ ==================== =====================














                                       6
<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                                 MARCH 31, 2000
                                   (Unaudited)


4.  Non-recourse debt:

Notes payable to financial  institutions are due in varying  monthly,  quarterly
and semi-annual installments of principal and interest. The notes are secured by
assignments  of lease  payments and pledges of the assets  which were  purchased
with the proceeds of the particular notes. Interest rates on the notes vary from
6.5% to 8.85%.

Future minimum principal payments of non-recourse debt are as follows:

 Year ending
December 31,      Principal          Interest               Total
------------      ---------          --------               -----
        2000        $1,150,917            $ 114,229           $ 1,265,146
        2001           697,282               56,062               753,344
        2002           250,450               19,870               270,320
        2003           106,480                2,861               109,341
               ---------------- -------------------- ---------------------
                    $2,205,129            $ 193,022           $ 2,398,151
               ================ ==================== =====================


5.  Related party transactions:

The terms of the Limited Partnership  Agreement provide that the General Partner
and/or   Affiliates   are  entitled  to  receive   certain  fees  for  equipment
acquisition, management and resale and for management of the Partnership.

The General Partner and/or Affiliates earned the following fees, commissions and
reimbursements, pursuant to the Limited Partnership Agreement as follows:

<TABLE>
<CAPTION>
                                                                                   2000             1999
                                                                                   ----             ----
<S>                                                                                <C>           <C>
Incentive  management  fees  (computed  as  5% of  distributions  of  cash  from
operations,  as defined in the  Limited  Partnership  Agreement)  and  equipment
management  fees  (computed as 5% of gross revenues from  operating  leases,  as
defined in the Limited Partnership Agreement plus 2% of gross revenues from full
payout  leases,  as defined in the Limited  Partnership  Agreement).                $ 64,405      $182,397


Administrative costs reimbursed to General Partner                                    43,987        30,609
                                                                                ------------- -------------
                                                                                   $ 108,392     $ 213,006
                                                                                ============= =============
</TABLE>










                                       7
<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                                 MARCH 31, 2000
                                   (Unaudited)


6.  Line of credit:

The  Partnership  participates  with the  General  Partner  and  certain  of its
Affiliates in a $95,000,000 revolving credit agreement with a group of financial
institutions  which  expires  on  July  28,  2000.  The  agreement  includes  an
acquisition  facility to be used by the  Partnership  and  Affiliates to provide
bridge financing for assets on leases.  Draws on the acquisition facility by any
individual  borrower  are  secured  only by that  borrower's  assets,  including
equipment and related leases.

From July 1, 2000 through July 28, 2000, the maximum available under the line of
credit shall be the then current balance or $85,000,000, which ever is less.

The Partnership had no borrowings under the agreement during 2000.

The credit agreement  includes certain  financial  covenants  applicable to each
borrower.  The  Partnership was in compliance with its covenants as of March 31,
2000.

















                                       8
<PAGE>

Item 2. Management's  Discussion and Analysis of Financial Condition and Results
of Operations


Capital Resources and Liquidity

During  2000,  the  Partnership's  primary  source of  liquidity  was rents from
operating leases. During 1999, the Partnership's primary source of liquidity was
proceeds from sales of lease assets.  The liquidity of the Partnership will vary
in the future,  increasing to the extent cash flows from leases exceed  expenses
and proceeds from lease asset sales, and decreasing as distributions are made to
the limited  partners and to the extent  expenses  exceed cash flows from leases
and proceeds from lease asset sales.

As another source of liquidity, the Partnership has contractual obligations with
a diversified group of lessees for fixed lease terms at fixed rental amounts. As
the  initial  lease  terms  expire the  Partnership  will  re-lease  or sell the
equipment.  The future  liquidity  beyond the  contractual  minimum rentals will
depend on the General  Partner's  success in re-leasing or selling the equipment
as it comes off lease.

The  Partnership  participates  with the  General  Partner  and  certain  of its
affiliates  in  a  $95,000,000   revolving  line  of  credit  with  a  financial
institution.  The line of credit  expires  on July 28,  2000.  From July 1, 2000
through July 28, 2000, the maximum  available  under the line of credit shall be
the then current balance or $85,000,000, which ever is less.

The Partnership currently has available adequate reserves to meet contingencies,
but in the event those  reserves were found to be  inadequate,  the  Partnership
would  likely be in a position to borrow  against its current  portfolio to meet
such  requirements.  The  General  Partners  envision no such  requirements  for
operating purposes.

Through March 31, 2000, the Partnership had borrowed  approximately  $38,342,000
with a remaining unpaid balance of approximately  $2,205,000.  Borrowings are to
be generally non-recourse to the Partnership,  that is, the only recourse of the
lender  for a default  by the  lessee  on the  underlying  lease  will be to the
equipment or  corresponding  lease acquired with the loan proceeds.  The General
Partners  expect that aggregate  borrowings in the future will not exceed 40% of
aggregate  equipment  cost. In any event,  the Agreement of Limited  Partnership
limits such borrowings to 40% of the total cost of equipment, in aggregate.

No commitments of capital have been made or are expected to be made.

If  inflation  in the general  economy  becomes  significant,  it may affect the
Partnership  inasmuch as the residual  (resale) values and rates on re-leases of
the  Partnership's  leased  assets may  increase as the costs of similar  assets
increase.  However,  the  Partnership's  revenues from existing leases would not
increase,  as such rates are generally fixed for the terms of the leases without
adjustment for inflation.

If interest rates increase  significantly,  the lease rates that the Partnership
can obtain on future  leases will be expected to increase as the cost of capital
is a significant  factor in the pricing of lease  financing.  Leases  already in
place, for the most part, would not be affected by changes in interest rates.

The Partnership made distributions of cash from 2000 first quarter operations in
February, March and April 2000. The amount of the distributions totaled $.35 per
Unit.  This was paid in either  monthly  amounts of  $.11667  per Unit or in one
quarterly payment of $.35 per Unit in April 2000. These  distributions are equal
to an annualized distribution rate of 14%.



                                       9
<PAGE>

Cash Flows

Rents  from  operating  leases  were the  primary  sources  of cash  flows  from
operations in the first quarter of both 2000 and 1999. The amounts of such rents
decreased from 1999 to 2000 by $242,949.

Sources of cash from  investing  activities  in 2000 and 1999  consisted  of the
proceeds  of the sales of lease  assets  and cash flows  from  direct  financing
leases.  Proceeds  from  the  sales  of  lease  assets  are not  expected  to be
consistent from one period to another.  Cash flows from direct  financing leases
decreased by $165,1344.  Lease rents have declined due to lease terminations and
sales of assets.

In the first quarter of 2000 and 1999,  there were no financing  sources of cash
flows.  Repayments  of  non-recourse  debt  have  decreased  as a result  of the
scheduled debt payments.


Results of Operations

Operations  in the first  quarter of 2000  resulted  in net  income of  $403,832
compared to $2,239,835 in 1999.

Operating lease revenues and the related  depreciation expense have decreased as
a result of asset  sales  over the last  year.  Sales of these  assets  were not
significant  in the first quarter of 2000.  In 1999,  sales of lease assets were
significantly  greater and the amounts of gains  recognized  on those sales were
also  significantly  higher.  Sales of assets are not expected to be  consistent
from one period to another.

Depreciation  expense has  decreased as a result of operating  lease asset sales
over the last year.

As scheduled debt payments have been made over the last year, debt balances have
been significantly reduced. As a result, interest expense has decreased compared
to the prior year.

Although total  distributions  to the Limited Partners was almost  unchanged,  a
larger portion was subject to the incentive management fee in 1999 than in 2000.
As a result,  incentive  management  fees  decreased  from  $167,925  in 1999 to
$37,241 in 2000.  Equipment management fees are related to gross lease rents and
as those  rents  have  decreased  as a  result  of asset  sales,  the fees  have
decreased from $44,473 in 1999 to $25,842 in 2000.




                                       10
<PAGE>

                           PART II. OTHER INFORMATION

Item 1.  Legal Proceedings.

         Inapplicable.

Item 2. Changes In Securities.

         Inapplicable.

Item 3. Defaults Upon Senior Securities.

         Inapplicable.

Item 4. Submission Of Matters To A Vote Of Security Holders.

         Inapplicable.

Item 5. Other Information.

         Inapplicable.

Item 6. Exhibits And Reports On Form 8-K.

        (a)Documents filed as a part of this report

        1.  Financial Statements

            Included in Part I of this report:

            Balance Sheet, March 31, 2000.
            Income statements for the three month periods ended March 31, 2000
               and 1999.
            Statement of changes in partners' capital for the three months ended
               March 31, 2000.
            Statements of cash flows for the three month periods ended March 31,
               2000 and 1999.
            Notes to the Financial Statements

        2.  Financial Statement Schedules

            All other  schedules for which  provision is made in the  applicable
               accounting  regulations  of the Securities and Exchange
               Commission are not required under the related  instructions or
               are inapplicable, and therefore have been omitted.



         (b) Report on Form 8-K
             None


                                       11
<PAGE>

                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


Date:
May 12, 2000

                               ATEL CASH DISTRIBUTION FUND IV, L.P.
                                (Registrant)



        By:  ATEL Financial Corporation
             General Partner of Registrant




                         By:   /s/ A. J. Batt
                               -------------------------------------
                               A. J. Batt
                               President and Chief Executive Officer
                               of General Partner




                         By:   /s/ Dean L. Cash
                               -------------------------------------
                               Dean L. Cash
                               Executive Vice President
                               of General Partner




        By:  /s/ Paritosh K. Choksi
             -----------------------------------
             Paritosh K. Choksi
             Principal financial officer
             of registrant




        By:  /s/ Donald E. Carpenter
             -----------------------------------
             Donald E. Carpenter
             Principal accounting
             officer of registrant